世纪铝业 2025年季度报告

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer or a smaller reporting company.See the definitions of “large accelerated filer,” “accelerated filer”, “smaller reporting company” and "emerging growth company" in Rule 12b-2 of the Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).☐Yes☒No The registrant had93,303,059shares of common stock outstanding at May5, 2025. TABLE OF CONTENTS PART I - FINANCIAL INFORMATION CENTURY ALUMINUM COMPANYCondensed Notes to the Consolidated Financial StatementsThree months ended March31, 2025 and 2024 1.General Description of Business Century Aluminum is a producer of primary aluminum, which trades as a global commodity, and owns a55% interest in an aluminarefinery joint venture. We are organized as a holding company, with our operating primary aluminum smelters and our bauxite and alumina Throughout this Form 10-Q, and unless expressly stated otherwise or as the context otherwise requires, "Century Aluminum","Century", "the Company", "we", "us", "our" and "ours" refer to Century Aluminum Company and its consolidated subsidiaries. Basis of Presentation The accompanying unaudited interim consolidated financial statements of Century Aluminum Company should be read in conjunctionwith the audited consolidated financial statements for the year ended December31, 2024. In management’s opinion, the unaudited interimconsolidated financial statements reflect all adjustments, which are of a normal and recurring nature, that are necessary for a fair Our consolidated financial statements include the consolidated results of the Jamalco joint venture ("Jamalco"), an unincorporatedjoint venture between Clarendon Alumina Production Limited ("CAP") and General Alumina Jamaica Limited ("GAJL"), an indirect,wholly-owned subsidiary of the Company through General Alumina Holdings Limited ("GAHL"). CAP's interest in the joint venture isreflected as noncontrolling interest on the accompanying Consolidated Balance Sheets. The acquisition of all the outstanding capital ofGAHL was accounted for as a business combination under the acquisition method of accounting in accordance with ASC 805 - Business Recent Accounting Pronouncements In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, thatrequires presentation of specific categories of reconciling items, as well as reconciling items that meet a quantitative threshold, in thereconciliation between the income tax provision and the income tax provision using statutory tax rates. The standard also requiresdisclosure of income taxes paid disaggregated by jurisdiction with separate disclosure of income taxes paid to individual jurisdictions thatmeet a quantitative threshold. The amendments in this accounting standard are effective for fiscal years beginning after December 15, In November 2024, the FASB issued ASU 2024-03, Income Statement-Reporting Comprehensive Income-Expense DisaggregationDisclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses, that requires disclosure of the amounts of purchases ofinventory, employee compensation, depreciation, and intangible asset amortization included in each relevant expense line item on theincome statement. The standard also requires a qualitative description of other amounts included in each relevant expense line item on theincome statement that are not separately disclosed. In addition, entities are required to disclose the nature and amount of selling expenses. Table of Contents CENTURY ALUMINUM COMPANYCondensed Notes to the Consolidated Financial Statements (continued)(amounts in millions, except share and per share amounts) consolidated financial statements and the Company plans to adopt this guidance for the annual period ending December 31, 2027. 2.Related Party Transactions The significant related party transactions occurring during the three months ended March31, 2025 and 2024 are described below. Allof our related party transactions are subject to the Company's Related Party Transaction Policy and are required to be made on an arm's Glencore Ownership As ofMarch31, 2025, Glencore plc and its affiliates (together "Glencore") beneficially owned42.9%of Century’s outstandingcommon stock (45.8% on a fully-diluted basis assuming the conversion of all of the Series A Convertible Preferred Stock) and all of ouroutstanding Series A Convertible Preferred Stock. SeeNote13. Shareholders' Equityfor a description of our outstanding Series AConvertible Preferred Stock. Century and Glencore enter into various transactions from time to time, such as the purchase and sale of Sales to Glencore For thethreemonths endedMarch31, 2025and 2024, we derived approximately59.7%and64.3%of our consolidated net sales fromGlencore, respectively. Glencore purchases aluminum produced at our U.S. smelters at pr